CCLD on Nasdaq

CareCloud

Logo: CareCloud, Public domain, via Wikimedia Commons4

American healthcare company

CareCloud, Inc. (formerly MTBC) is a publicly traded American healthcare information technology company that provides services, to healthcare providers and hospitals.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1999Founded1

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  • TickerCCLD on Nasdaq1
  • Industryhealth information technology1
  • HeadquartersNew Jersey1
  • Websitewww.carecloud.com
  • Incorporated inDE5
  • Business address7 Clyde Road, Somerset, Somerset, Nj 088735
  • Filer categoryAccelerated filer, Smaller reporting company5

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CareCloud, Inc. (formerly MTBC) is a publicly traded American healthcare information technology company that provides services, to healthcare providers and hospitals. The Company maintains its headquarters in Somerset, New Jersey, and employs approximately 4,000 workers worldwide.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

9.4%Operating margin7
9.0%Net margin7
8.7%Revenue growth, 20257
18.1%Return on equity7
$23.8MFree cash flow7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Chronic Care Management brought in 78% of the revenue CareCloud broke down this way in fiscal 2025.

  1. Chronic Care Management$2.8M778%down 7% from 2024
  2. Remote Patient Monitoring$794.0K722%up 2% from 2024
Products and services by year
Products and services20242025
Chronic Care Management$3.0M$2.8M
Remote Patient Monitoring$779.0K$794.0K

Business segments

Healthcare I T brought in 88% of the revenue CareCloud broke down this way in fiscal 2025.

  1. Healthcare I T$106.6M788%up 11% from 2024
  2. Medical Practice Management$13.9M712%down 3% from 2024
Business segments by year
Business segments20242025
Healthcare I T$96.4M$106.6M
Medical Practice Management$14.4M$13.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development5¢$6.4M
  • Other costs86¢$103.1M
  • Income tax0¢$199.0K
  • Profit9¢$10.8M

Out of $120.5M in revenue.7

Where each dollar of operating cash went, fiscal 2025

  • Capital spending17¢$4.8M
  • Kept or used elsewhere83¢$23.8M

Out of $28.6M of cash from operations.7

Financial statements

Revenue891011127$120.5M in 2025+87% since 2019
0$50.0M$100.0M$150.0M2019: $64.4M$64.4M20192020: $105.1M$105.1M2020+63%2021: $139.6M$139.6M2021+33%2022: $138.8M$138.8M2022−1%2023: $117.1M$117.1M2023−16%2024: $110.8M$110.8M2024−5%2025: $120.5M$120.5M2025+9%
Operating income891011127$11.3M in 2025+16830% since 2019
-$60.0M-$40.0M-$20.0M0$20.0M2019: $67.0K$67.0K20192020: -$8.3M-$8.3M20202021: $3.5M$3.5M20212022: $6.6M$6.6M2022+87%2023: -$47.1M-$47.1M20232024: $9.1M$9.1M20242025: $11.3M$11.3M2025+24%
Net income891011127$10.8M in 2025
-$60.0M-$40.0M-$20.0M0$20.0M2019: -$872.0K-$872.0K20192020: -$8.8M-$8.8M2020+911%2021: $2.8M$2.8M20212022: $5.4M$5.4M2022+92%2023: -$48.7M-$48.7M20232024: $7.9M$7.9M20242025: $10.8M$10.8M2025+38%

Every line of the income statement in the latest annual report, as filed.7

Period ending2025-12-312024-12-31
NET REVENUE$120.5M$110.8M
Direct operating costs$64.5M$60.8M
Selling and marketing$4.8M$6.2M
General and administrative$18.4M$16.1M
Research and development$6.4M$3.8M
Depreciation and amortization$15.0M$14.1M
Lease termination and restructuring costs$154.0K$596.0K
Total operating expenses$109.2M$101.7M
Operating income (loss)$11.3M$9.1M
Interest income$206.0K$88.0K
Interest expense-$287.0K-$900.0K
Other expense - net-$265.0K-$298.0K
INCOME BEFORE PROVISION FOR INCOME TAXES$11.0M$8.0M
Income tax provision$199.0K$160.0K
NET INCOME$10.8M$7.9M
Preferred stock dividend$6.9M$12.3M
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS$3.9M-$4.5M
Net income (loss) per share: basic$0.10-$0.28
Net income (loss) per share: diluted$0.10-$0.28
Weighted-average common shares used to compute basic income (loss) per share37.8M shares16.1M shares
Weighted-average common shares used to compute diluted income (loss) per share38.0M shares16.1M shares

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The story

CareCloud was founded as Medical Transcription Billing Corporation (MTBC) in 1999 by American entrepreneur Mahmud Haq. The earliest days of the company were focused on providing transcription and manual medical billing to healthcare providers primarily located in New Jersey.

In 2004, the company developed a fully integrated suite of services that includes a proprietary practice management platform, ONC-ACB, meaningful use stage 2 certified complete electronic health records software and a revenue cycle management service.

On June 6, 2013, former ambassador to Pakistan Cameron Munter joined MTBC's Board of Directors.

On July 23, 2014, the company went public on NASDAQ Capital Market under the ticker symbol "MTBC." The preferred stock trades under “MTBCP.”

In 2017, the company launched talkEHR, the industry’s first voice-enabled electronic health record.

In 2019, they changed the corporation name from Medical Transcription Billing Corp. to MTBC, Inc.

In 2021, MTBC changed its name to CareCloud, Inc., adopting the name of the company it had acquired the previous year.

The company also has operations in Pakistan and Sri Lanka.

From Wikipedia’s article on CareCloud, shared under CC BY-SA 4.0.6

Products and brands

CareCloud offers Software-as-a-Service (or SaaS) platform that includes revenue cycle management (RCM), business intelligence, telehealth, practice management (PM) electronic health record (EHR), patient experience management (PXM), Robotic Process Automation (RPA), and solutions for high-performance medical groups.

From Wikipedia’s article on CareCloud, shared under CC BY-SA 4.0.6

Acquisitions

Post-IPO, the company (as MTBC) made 16 acquisitions including revenue cycle management and healthcare IT companies in the United States. Some of the key acquisitions include Gulf Coast Billing (2016), Renaissance Physician Services (2016), MediGain (2016), Orion (2018).

In 2020, MTBC made two major acquisitions of healthcare technology companies: CareCloud Corporation, a Miami-based company founded by Albert Santalo in 2009, and Meridian Medical Management, for reportedly up to $40M and $24.8M, respectively. In 2021, MTBC renamed itself CareCloud, Inc., taking the acquired company's name.

From Wikipedia’s article on CareCloud, shared under CC BY-SA 4.0.6

Former names

  • MTBC, Inc.Feb 6, 2019 to Mar 25, 20215
  • MEDICAL TRANSCRIPTION BILLING, CORPSep 9, 2013 to Jan 7, 20195

Timeline

  1. Jul 23, 2014Went public Listed on NASDAQ1
  2. 1999Founded Founded1

Recent filings

  1. Oct 5, 20263
  2. Sep 29, 20268-K
  3. Aug 10, 20264
  4. Aug 10, 20264
  5. Aug 10, 20264
  6. Aug 10, 20264
  7. Aug 6, 20268-K
  8. Aug 6, 202610-Q
  9. Jul 31, 20264
  10. Jul 31, 20264
  11. Jul 31, 20264
  12. Jul 31, 20264
  13. Jul 24, 20268-K/A
  14. Jul 24, 20264
  15. Jun 26, 20268-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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